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Community Development Director Gladhill explained the InterFund loan has a current balance of <br />$513K, and is being paid back by the General Fund/General Levy. If this transaction moves <br />forward, staff will recommend the InterFund loan be paid back first, as much as possible, with <br />the benefit of removing a debt service burden from the General Levy. Staff requested the <br />Planning Commission consider the purchase agreement (purchase offer of $500,000) <br />from Platinum Properties Group, Inc. for a 9.3-acre City owned property located just south of <br />Vision Ease Lens for a 123,840 square foot industrial project and provide staff with feedback. <br />Commission Business <br />Commissioner VanScoy believed this was a great fit for the proposed property. <br />Commissioner Nosan understood this development had a retail element and questioned if the site <br />had adequate parking. <br />Community Development Director Gladhill explained the site was permitted to have commercial <br />retail recreation and had sufficient parking. <br />Commissioner Nosan believed this was an exciting development. <br />Commissioner Brauer agreed and wished this development was closer to The COR. <br />Commissioner Andrusko was excited about the project, but had some concerns with the proposed <br />terms. <br />5.04: Receive Update of Pearson Bowers Drive Concept (Project No. 16-31a) <br />Presentation <br />Community Development Director Gladhill presented the staff report stating the intent of this <br />case is to provide a new update since this case was last reviewed on July 21, 2016. The <br />Minnesota DNR has completed the Public Hearing and Administrative Law Review of the draft <br />rules. The Administrative Law Judge has recommended approval of the rules, with the exception <br />of provisions related to Native Plant Communities. Additionally, Staff has received additional <br />feedback from DNR Staff on potential process related to this particular development scenario. <br />As the Planning Commission is aware, Pearson Properties of Ramsey, LLC, is considering a <br />detached single-family development along Bowers Drive. Staff recommended the Concept <br />Development be submitted to the DNR as a Planned Unit Development for official comment. <br />Commission Business <br />Commissioner VanScoy asked if the proposed plan met all PUD requirements. <br />Community Development Director Gladhill discussed the PUD requirements further noting the <br />public benefit would be that a 50-foot piece of land would be given to the City to protect the <br />existing tree cover. <br />Planning Commission/September 1, 2016 <br />Page7of10 <br />